The new report by Expert Market Research titled, ‘Global Automotive Wrap Films Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive wrap films market, assessing the market based on its segments like film type, vehicle type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 21%
- Forecast Market Size (2026): USD 11 billion
The global automotive wrap films industry is expected to witness a significant boost due to modernisation and change in consumer lifestyle, which is influenced by factors like rising disposable incomes and improved standard of living. Advancement in technology has led to the growing demand for customisation of vehicles, which is further projected to fuel the demand for automotive wrap films. Further, due to growing demand for automotive wrap film for marketing campaigns and product ads, the market for automotive wrap film is expected to increase. In addition, the rise in car racing events and the integration of electric vehicles is expected to boost the market growth over the forecast period.
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Industry Definition and Major Segments
Automotive wrap films are vinyl graphics applied over the original paint of vehicles. These wraps are used for the purpose of enhancing the appearance of a vehicle and to safeguard the original paint from getting dusty or corroded. These films are cost effective method to protect vehicles in the long run and help in customisation of a vehicle.
Based on film type, the market is segmented into:
- Window Films
- Wrap Films
- Paint Protection Films
On the basis of vehicle type, the market is divided into:
- Passenger Vehicle
- Commercial Vehicle
The regional markets for the product include:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Automotive wrap films are increasingly used for advertisement purposes due to their cost-effective nature and personalisation requirements which is expected to boost the demand for automotive wrap films. Also, growing acceptance and demand of solid coloured automotive wrap films such as matte black, green, orange can be witnessed in the U.S. market, which will fuel the growth of the market in the region in the forecast period. Textured finishes such as wood grain, brushed metal will be in high demand in Europe and North America. This is expected to bolster the market growth over the forecast period.
Key Market Players
The major players in the market are 3MCo., AXEVINYL Industrial Co., Ltd, Avery Dennison Corporation, and HEXIS S.A.S, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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